The COVID-19 pandemic in the U.S has increased the need for digital notarization and e-signatures this year. While they have been in use for some time, they are becoming more common in real estate transactions in recent weeks. Home buyers, sellers, and agents want to continue practicing social distancing while carrying out home closing procedures. Instead of keeping 6 feet away from others while wearing a face mask, many people are choosing the virtual route instead. If we continue to see successful remote closings, we should expect them to be used readily even after the pandemic comes to an end. Besides the obvious benefit of being able to stay at home, here are three significant benefits of remote closings during COVID-19.
Remote closings save time.
In 2020, people work on all different types of schedules. Because of this, it can be challenging to get all parties involved in a real estate transaction together in one physical location. However, with remote closings, you do not need to worry about scheduling or everyone driving to one place.
Remote closings are easier signing experiences.
For years, paper documents needed to be printed and distributed to home buyers. Because several documents are needed, it is easy for a page to go missing or for a buyer to miss a signature. With remote closings, this eliminates this concern because they ensure everything is filled out entirely.
Remote closings are less stressful.
It can be stressful for buyers to sit at a closing table. For most people, buying a home is the largest purchase a person will make in their entire life. People tend to be less anxious at remote closings because they feel less rushed when asked to sign several online documents. Buyers can review documents ahead of time before the eClosing to be sure they fully understand everything.
